Heavy Refurbishment
Image
Key Product Criteria
Heavy refurbishment loans can be used to fund structural works including extensions, conversions (commercial premises to residential use), reconfiguration (house to flats) for which planning permission may be required.
Purpose:
Heavy refurbishment, minor development, and conversions to residential units
Maximum loan size:
£3,500,000
Loan term:
1 to 18 months
MAX LTV:
60%
Arrangement fee:
2%
Interest method:
Rolled
Monthly rates from:
0.93%
Charge:
First
Early repayment charge:
Three months’ interest
Other Criteria:
Residential, semi-commercial or commercial. To be classed as semi-commercial, the residential element must account for at least 50% of the value and have separate access.
